Pub Date : 2024-05-27DOI: 10.1108/ijlma-01-2024-0030
Pawan Kumar, Sanjay Taneja, Ercan Ozen
Purpose The purpose of this study to brought new dimensions by inserting market conditions and investor sentiments as independent variable measure their impact on government policy formulation and sustainable development. This research also measures the moderating effective stakeholder engagement. Previous research has focused on demystifying the relationship between green bonds and sustainable development. Design/methodology/approach The analysis part of the research is initiated by factor analysis on the sample size of 100. After the construction of appropriate statements matching the research objective, it was circulated to the respondents of northern region of India. The sampling technique was random in nature through which data analysis on 700 respondents was done. For meeting research objectives present research applies PLS algorithm on the conceptual model framed through review of literature. Findings Out of all independent variables green bond issuance is having statistically significant impact on government policy formulation and investors’ sentiment is having statistically significant impact on sustainable development. Rest all other pairs are statistically insignificant. For an investor, it is necessary to understand that how its sentiments impacts government policy formulation and the health of ecology. Practical implications The research produced results with management implications for practitioners and policy makers that are very significant to the fields of sustainability, green finance and environmental policy. Green bonds also influence government policy, illustrating how green financing may revolutionize environmental laws and regulations. Social implications The social implications of this revelation are considerable. The research enhances knowledge about sustainable development by emphasizing the importance of green bonds in supporting environmentally friendly activities. It allows for transparent reporting, increasing social accountability and reputation while attracting environmentally conscious consumers and fostering community trust. According to the survey, investor sentiment and their enthusiasm for eco-friendly investments may push more money to efforts that are good for society and the environment. This study enhances consciousness about sustainable finance, which has the potential to inspire beneficial social shifts towards a more environmentally and socially equitable future. Originality/value These social ramifications manifest themselves in various socioeconomic and environmental issues of the society in addition to credit and public policy. Second, it is evident that green bond emissions are influencing government policy, demonstrating the power of financial instruments to encourage environmentally beneficial social outcomes by providing officials with an incentive to modify environmental regulations.
{"title":"Exploring the influence of green bonds on sustainable development through low-carbon financing mobilization","authors":"Pawan Kumar, Sanjay Taneja, Ercan Ozen","doi":"10.1108/ijlma-01-2024-0030","DOIUrl":"https://doi.org/10.1108/ijlma-01-2024-0030","url":null,"abstract":"\u0000Purpose\u0000The purpose of this study to brought new dimensions by inserting market conditions and investor sentiments as independent variable measure their impact on government policy formulation and sustainable development. This research also measures the moderating effective stakeholder engagement. Previous research has focused on demystifying the relationship between green bonds and sustainable development.\u0000\u0000\u0000Design/methodology/approach\u0000The analysis part of the research is initiated by factor analysis on the sample size of 100. After the construction of appropriate statements matching the research objective, it was circulated to the respondents of northern region of India. The sampling technique was random in nature through which data analysis on 700 respondents was done. For meeting research objectives present research applies PLS algorithm on the conceptual model framed through review of literature.\u0000\u0000\u0000Findings\u0000Out of all independent variables green bond issuance is having statistically significant impact on government policy formulation and investors’ sentiment is having statistically significant impact on sustainable development. Rest all other pairs are statistically insignificant. For an investor, it is necessary to understand that how its sentiments impacts government policy formulation and the health of ecology.\u0000\u0000\u0000Practical implications\u0000The research produced results with management implications for practitioners and policy makers that are very significant to the fields of sustainability, green finance and environmental policy. Green bonds also influence government policy, illustrating how green financing may revolutionize environmental laws and regulations.\u0000\u0000\u0000Social implications\u0000The social implications of this revelation are considerable. The research enhances knowledge about sustainable development by emphasizing the importance of green bonds in supporting environmentally friendly activities. It allows for transparent reporting, increasing social accountability and reputation while attracting environmentally conscious consumers and fostering community trust. According to the survey, investor sentiment and their enthusiasm for eco-friendly investments may push more money to efforts that are good for society and the environment. This study enhances consciousness about sustainable finance, which has the potential to inspire beneficial social shifts towards a more environmentally and socially equitable future.\u0000\u0000\u0000Originality/value\u0000These social ramifications manifest themselves in various socioeconomic and environmental issues of the society in addition to credit and public policy. Second, it is evident that green bond emissions are influencing government policy, demonstrating the power of financial instruments to encourage environmentally beneficial social outcomes by providing officials with an incentive to modify environmental regulations.\u0000","PeriodicalId":46125,"journal":{"name":"International Journal of Law and Management","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2024-05-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141098248","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-05-21DOI: 10.1108/ijlma-02-2024-0043
Abhishek Kajal, Siddharth Bansal
Purpose The purpose of this study is to analyse the impact of corporate attributes like a company’s profitability, size, age, leverage and board size on companies’ sustainability reporting as measured through India’s new business responsibility and sustainability reporting (BRSR) framework. Design/methodology/approach A random sample of 130 companies was taken from the top 1,000 listed companies on the National Stock Exchange. Sequential mixed methods research approach was used to prepare a sustainability quality index. Then, a hierarchical multiple regression analysis was performed to examine the impact on the quality of reporting by Indian companies. Findings Interestingly, the analysis revealed that traditional metrics like age, profitability, board size and leverage did not have significant associations with reporting quality. Rather, the size of a company in terms of market capitalisation was found to have a strong positive impact on sustainability reporting. Research limitations/implications This was a cross-sectional study, as time series data for BRSR reporting is not yet available. Also, only five parameters were taken for analysis. Lastly, subjective judgment in content analysis may be involved. Practical implications This suggests that only larger companies in India are prioritising sustainability reporting over smaller ones. It affirms the legitimacy and stakeholder theory in the Indian context. Originality/value To the best of the authors’ knowledge, this study is one of the first endeavours to assess the efficacy of the new Indian BRSR framework and test its primary objectives. Furthermore, significant implications have been given for managers to catalyse and reinforce the sustainability momentum down the lane across companies of all sizes in India.
{"title":"Analysing impact of corporate attributes on sustainability disclosures through India’s new BRSR framework","authors":"Abhishek Kajal, Siddharth Bansal","doi":"10.1108/ijlma-02-2024-0043","DOIUrl":"https://doi.org/10.1108/ijlma-02-2024-0043","url":null,"abstract":"Purpose\u0000The purpose of this study is to analyse the impact of corporate attributes like a company’s profitability, size, age, leverage and board size on companies’ sustainability reporting as measured through India’s new business responsibility and sustainability reporting (BRSR) framework.\u0000\u0000Design/methodology/approach\u0000A random sample of 130 companies was taken from the top 1,000 listed companies on the National Stock Exchange. Sequential mixed methods research approach was used to prepare a sustainability quality index. Then, a hierarchical multiple regression analysis was performed to examine the impact on the quality of reporting by Indian companies.\u0000\u0000Findings\u0000Interestingly, the analysis revealed that traditional metrics like age, profitability, board size and leverage did not have significant associations with reporting quality. Rather, the size of a company in terms of market capitalisation was found to have a strong positive impact on sustainability reporting.\u0000\u0000Research limitations/implications\u0000This was a cross-sectional study, as time series data for BRSR reporting is not yet available. Also, only five parameters were taken for analysis. Lastly, subjective judgment in content analysis may be involved.\u0000\u0000Practical implications\u0000This suggests that only larger companies in India are prioritising sustainability reporting over smaller ones. It affirms the legitimacy and stakeholder theory in the Indian context.\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, this study is one of the first endeavours to assess the efficacy of the new Indian BRSR framework and test its primary objectives. Furthermore, significant implications have been given for managers to catalyse and reinforce the sustainability momentum down the lane across companies of all sizes in India.\u0000","PeriodicalId":46125,"journal":{"name":"International Journal of Law and Management","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2024-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141114954","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}